Apple Inc. (NASDAQ:AAPL) Position Lessened by KFG Wealth Management LLC

KFG Wealth Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 19.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 17,598 shares of the iPhone maker’s stock after selling 4,334 shares during the quarter. Apple comprises about 0.8% of KFG Wealth Management LLC’s holdings, making the stock its 24th biggest position. KFG Wealth Management LLC’s holdings in Apple were worth $4,407,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bull Oak Capital LLC raised its holdings in shares of Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after acquiring an additional 111 shares in the last quarter. Christopher J. Hasenberg Inc raised its holdings in shares of Apple by 88.9% during the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Apple during the third quarter worth $71,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Apple during the third quarter worth $77,000. Finally, ARK Investment Management LLC purchased a new stake in shares of Apple during the third quarter worth $110,000. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AAPL has been the topic of several recent research reports. Moffett Nathanson restated a “sell” rating and set a $188.00 target price (down from $202.00) on shares of Apple in a report on Tuesday, January 7th. Evercore ISI raised their target price on Apple from $260.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday. The Goldman Sachs Group restated a “buy” rating on shares of Apple in a report on Wednesday, February 19th. DA Davidson set a $290.00 target price on Apple in a report on Friday, January 31st. Finally, Sanford C. Bernstein raised their target price on Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Apple presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.65.

Apple Trading Down 0.6 %

AAPL stock opened at $212.69 on Wednesday. Apple Inc. has a 1-year low of $164.08 and a 1-year high of $260.10. The firm has a market cap of $3.20 trillion, a P/E ratio of 33.76, a P/E/G ratio of 2.44 and a beta of 1.18. The business’s 50 day moving average is $233.31 and its 200-day moving average is $233.60. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26.

Apple (NASDAQ:AAPL) last released its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a return on equity of 160.83% and a net margin of 24.30%. Equities analysts anticipate that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.47%. Apple’s dividend payout ratio is currently 15.87%.

Apple Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.